Department of Trade and Industry (DTI) Secretary Ramon Lopez and Republic of Korea (ROK) Minister for Trade, Industry, and Energy Yoo Myung-hee officially launched the negotiations of the PH-ROK Free Trade Agreement (FTA) on 3 June 2019 at Seoul, South Korea. Both countries recognized the potential to advance economic relations by enhancing trade and investment flow between them through the removal of impediments to closer trade and the creation of business and investment opportunities. The ministers committed to conclude the negotiation of a “comprehensive and future-oriented FTA” by November 2019. The FTA will create favorable conditions for exporters, investors, industries, work force, as well as the micro, small, and medium enterprises (MSME) of both countries.
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Philippines, Republic of Korea launch FTA negotiations, conduct first JCTEC meet